Other Market Research Methods

Learn how to utilize ChatGPT in interviews and secondary research with respect to market research.

We'll cover the following

As we have seen, surveys are the most common way of conducting market research. However, the other two techniques—interviews and secondary research—are also used in this regard. Let’s discuss each of them and leverage ChatGPT to design some interview questions and analyze the previous data collected as secondary research.

Interview#

During market research, the data collected from interviews is analyzed by reviewing the transcripts and identifying key themes, patterns, and insights. Researchers may use qualitative analysis techniques to interpret the data and draw meaningful conclusions. The insights from interviews contribute to a comprehensive understanding of consumer behaviors, preferences, needs, and market trends, helping businesses make informed decisions and shape their strategies.

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Let’s understand the differences between interview and survey questions.

  • Structured vs. unstructured questions:

    • Surveys include structured questions with predetermined answers. However, interviews contain both structured and unstructured questions.

    • In an interview, an interviewer asks open-ended questions, which allow more detailed responses to be gathered.

  • Standardization vs. customization:

    • Surveys consist of the same questions for all respondents uniformly, whereas, in an interview, questions are customized based on the respondent’s answers.

    • Interviews enable us to ask follow-up questions to gain deeper insights.

  • Large sample sizes vs. small sample sizes:

    • Surveys offer the advantage of collecting data from a larger sample size, while interviews typically gather data from a smaller sample size.

    • Interviews are more time-consuming and resource-intensive than surveys.

  • Quantitative vs. qualitative data:

    • Surveys are primarily used to collect quantitative data, which can be analyzed statistically to identify trends and patterns.

    • Interviews, on the other hand, are used to collect qualitative data, which provides rich insights into the attitudes, beliefs, and behaviors of respondents.

Now we have an understanding of the two techniques regarding market research—surveys and interviews. Let’s stay focused on our objective and ask ChatGPT to generate interview questions along with their follow-up questions. A generic example is given below:

Prompt: Provide me with 10 main questions for an interview related to shopping habits and preferences. Each question should have a follow-up question.

Sure! Here are 10 main questions for an interview on shopping habits and preferences, along with follow-up questions:

  1. Can you tell me about your shopping habits?

    • Follow-up: How often do you shop for non-grocery items in a month?

  2. What factors influence your purchasing decisions?

    • Follow-up: Can you provide an example of a recent purchasing decision you made and the factors that influenced it?

  3. How important is customer service to you when making a purchase?

    • Follow-up: Can you tell me about a positive customer service experience you had while shopping?

  4. How do you prefer to shop for non-grocery items? (in-store, online, etc.)

    • Follow-up: What are some advantages and disadvantages of your preferred shopping method?

  5. What do you look for when choosing a brand to purchase from?

    • Follow-up: Are there any particular brands that you are loyal to? If so, why?

  6. How do you typically research products before making a purchase?

    • Follow-up: What sources of information do you rely on when researching products?

  7. Have you ever had a negative shopping experience? If so, can you tell me about it?

    • Follow-up: How did the retailer respond to your complaint or issue?

  8. What do you consider to be a fair price for the products you purchase?

    • Follow-up: Have you ever paid more for a product than you initially intended? If so, why?

  9. Are there any specific non-grocery items that you tend to purchase repeatedly?

    • Follow-up: Can you tell me about a recent purchase of one of these items and what factors influenced your decision to purchase it again?

  10. How do you see your shopping habits changing in the next few years?

  • Follow-up: What factors do you think will influence these changes in your shopping habits?

Note: Similar to a survey, we can also prompt ChatGPT to provide a certain type of questions. For example, rating scale or behavioral interview quesitons.

Secondary research#

Secondary research gathers and analyzes existing data from various sources, offering valuable insights, statistics, and trends for market research. It encompasses various methods and techniques to analyze data. Primarily, it includes two broader categories: summarizing existing data and conducting desk research. Let’s explore them more.

Summarizing existing information#

The purpose of summarizing documents is to extract relevant information quickly and efficiently without losing the essence of the original content. This process requires a significant amount of time if performed manually. Therefore, ChatGPT can be leveraged to capture the main points by condensing lengthy and complex documents into concise summaries to speed up the process.

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Prompt: Summarize the report to extract data related to market research:

[Report]

Conducting desk research #

Desk research is a sub-category of secondary research. Therefore, the two are often confused for each other. It refers to gathering information from available resources. ChatGPT helps find relevant data quickly and provides structured information. This is often a first step that provides us with valuable information and insights into existing data from various resources.

It is conducted before a survey or interview to establish a foundation and be used as guidance for further research. Let’s start with a simple prompt to ask ChatGPT regarding desk research:

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Prompt: Perform desk research on shopping habits and preferences.

Certainly! Here are some key findings from desk research on shopping habits and preferences:

  1. Online shopping has grown in popularity: According to a report by Digital Commerce 360, online sales of non-grocery items increased by 44% in 2020. The COVID-19 pandemic is likely a factor in this growth, as more people opted to shop online to avoid crowded stores.

  2. Convenience is a top priority for shoppers: A survey by Nielsen found that convenience was the top factor influencing purchase decisions for 75% of respondents. This includes factors like easy access to products, fast delivery, and hassle-free returns.

  3. Price is still important: While convenience is a top priority, shoppers are still looking for good deals. A survey by McKinsey found that 74% of respondents said that price was a significant factor in their purchase decisions.

  4. Sustainability is becoming more important: A survey by Accenture found that 60% of consumers said they were more likely to purchase from a company that is environmentally friendly. This includes factors like using sustainable materials and reducing waste.

  5. Mobile devices are playing an increasing role in shopping: According to a report by eMarketer, mobile commerce (m-commerce) sales are expected to account for 44% of all e-commerce sales in 2021. This includes purchases made through smartphones and tablets.

  6. In-store shopping is still popular: While online shopping has grown in popularity, many consumers still prefer to shop in-store. A survey by Retail Dive found that 71% of respondents preferred to shop in-store for apparel, and 56% preferred to shop in-store for electronics.

  7. Personalization is becoming more important: A survey by Salesforce found that 57% of consumers were willing to share personal information with retailers in order to receive personalized shopping experiences. This includes personalized product recommendations and tailored marketing messages.

  8. Social media is influencing shopping habits: A survey by GlobalWebIndex found that 54% of social media users had purchased a product after seeing it on social media. This includes platforms like Instagram and TikTok, which have become popular channels for influencer marketing.

The response uses figures and sources to summarize shopping habits and preferences. This shows the ability of generative AI tools to structure existing information. However, as market researchers, we are responsible for verifying the sources.

The prompt above is a bit generic. Let’s switch gears and focus on conducting desk research specific to a particular country. Feel free to replace the prompt given in the following section with your preferred query and observe the results.

Practice#

Let’s ask ChatGPT to perform desk research on shopping habits and preferences for a specific country or region.

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Prompt AI WidgetOur tool is designed to help you to understand concepts and ask any follow up questions. Ask a question to get started.
Specify a country of your choice when performing desk research

Perform desk research on shopping habits and preferences for Australia.

Designing a Survey Using ChatGPT

Market Research Analysis Using ChatGPT